EssilorLuxottica Achieves Robust Growth in 2024: A Look at Revenue and New Innovations

EssilorLuxottica, the renowned eyewear maker behind Ray-Ban, reported impressive financial results for 2024. The company experienced strong revenue growth in the fourth quarter, with a 9.2% increase at constant exchange rates, exceeding market expectations and bringing the full year's revenue to €26.5 billion. This growth was fueled by strong performances in North America and China, as well as positive contributions from the EMEA region.

One of the standout achievements for EssilorLuxottica was its expansion into new sectors, particularly in smart technology and medical fields. The Ray-Ban Meta smartglasses have been a major success, with the company selling 2 million units since their launch, showcasing a strong consumer interest in digital eyewear. Additionally, the Stellest lenses for myopia management saw significant growth, especially in China, contributing to a 50% revenue increase in the fourth quarter.

Operationally, EssilorLuxottica saw its adjusted operating profit rise by 9.4% to €4.4 billion, with an aim to further increase this figure to 19-20% of revenues by 2026. Despite its roots in traditional eyewear, the company is strategically broadening its scope to include more high-tech and medical products, ensuring its leadership in the evolving eyewear market.

The company’s commitment to innovation is evident not only in its product offerings but also in strategic acquisitions and collaborations. Recent partnerships and acquisitions, including collaborations with fashion giants like Diesel and Prada, and the acquisition of Supreme, are set to further enhance their brand’s cultural influence and product desirability. These moves position EssilorLuxottica at the forefront of both fashion and technological innovation within the eyewear industry.

EssilorLuxottica continues to emphasize sustainability and social responsibility, as demonstrated by its Eyes on the Planet initiative. With validated carbon emission reduction targets for 2030 and ongoing collaboration with the WHO through the OneSight EssilorLuxottica Foundation, the company is ensuring that its growth benefits a broader community. Looking ahead, EssilorLuxottica remains confident in achieving its long-term targets, driven by its commitment to innovation, sustainability, and making a positive global impact.